Repsol will exploit its natural gas megafield in Brazil

Petrochemicals, Uncategorized

Inspenet, September 24, 2023.

Repsol, Equinor of Norway and Petrobras of Brazil have presented to the National Agency for Petroleum, Natural Gas and Biofuels (ANP) the declarations of commercial viability and the development plans of two gigantic natural gas fields located in the BM-C- concession. 33, located in the Campos basin of Brazil.

This initiative represents a joint investment of 9,000 million dollars and constitutes one of the largest investment commitments in Repsol’s Exploration and Production division, announced last May.

The deposits of Brazil

These natural gas fields are located approximately 200 km off the coast of Rio de Janeiro and are located in deep waters that reach 2,900 meters deep. Together, they hold recoverable reserves of natural gas and oil/condensate that exceed 1 billion barrels of oil equivalent. When they come into production, they have the potential to satisfy up to 15% of the total gas demand in the country.

The regulator is anticipated to give approval to the proposed names for the two fields, known as Raia Manta and Raia Pintada.

The group has detailed that the selected development strategy includes the use of a floating production storage and offloading unit (FPSO), designed to process both gas and oil/condensate in a way that meets the specifications required for its sale, without the need additional processing on land. The FPSO will have the capacity to produce 16 million m 3 of gas per day , with estimated exports of 14 million m 3 of gas per day.

Repsol Sinopec Brazil, a joint venture in which Repsol owns a 60% stake, owns 35% of the concession, as does Equinor, which is also responsible for the operation of the project. The remaining 30% belongs to Petrobras.

Source: brazil-de-8400-millions.html#:~:text=Repsol %20iniciar% C3 %A1% 20la %20producci% C3 %B3n% 20de,de %208.400% 20millions %20en% 20Brazil

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